Deeper trade with the European Union will bring good jobs, growth and long-term prosperity to hard-working British Columbians, says Minister Moore

April 27, 2012 – The Honourable James Moore, Minister of Canadian Heritage and Official Languages, today joined federal ministers across the country in highlighting the benefits of a potential trade agreement with the European Union. The Minister held an event at a local business in British Columbia’s important fish and seafood sector to highlight the benefits a Canada-EU trade agreement would generate for Canadian workers and their families.

“Our government is focused on jobs, growth and long-term prosperity. An ambitious agreement with the European Union will be a big win for British Columbia’s workers and businesses,” said Minister Moore at the Canadian Fishing Company facilities in Vancouver. “Nearly 5,500 hard-working British Columbians and their families depend on the fish and seafood sector for their livelihood. A Canada-EU trade agreement will produce success for this critical sector and directly benefit workers and families who rely on it here in British Columbia.”

“More than 60 percent of Canada’s annual income (gross domestic product) and the jobs of one in five Canadians are generated by trade,” said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, in a keynote address today to the Economic Club of Canada in Ottawa. The Minister’s address was among several events being held across the country to highlight the benefits of the Canada-EU trade agreement currently under negotiation.

“An ambitious trade agreement with the European Union would generate significant benefits for hard-working Canadians in every region of our country,” said Minister Fast. “It would bring a 20-percent boost in bilateral trade and a $12-billion annual increase to Canada’s economy. That translates to an increase of $1,000 to the average Canadian family’s income, or 80,000 new jobs.”

The EU is Canada’s second-largest trading partner and the world’s largest integrated economy, with more than 500 million consumers and a GDP of over $17 trillion. The ongoing trade negotiations with the EU represent Canada’s most significant trade initiative since the historic North American Free Trade Agreement.

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A backgrounder detailing the benefits for British Columbia of a potential Canada-EU trade agreement follows.

For further information, media representatives may contact:

Rudy Husny
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway
613-992-7332

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A History of Economic Cooperation

Canada and the EU have a long history of economic cooperation. Composed of 27 Member States with a total population of over 500 million and a GDP of nearly $16.8 trillion in 2010, the EU is the world’s largest single common market, foreign investor and trader. As an integrated block, the EU represents Canada's second largest trading partner in goods and services. In 2010, Canadian goods and services exports to the EU totalled $49.1 billion, and imports from the EU amounted to $55.2 billion.